Grant Forest acquisitions clear competition bureau
ATLANTA: The Canadian Competition Bureau has declared Georgia-Pacific Corp.’s potential acquisition of some Grant Forest Products facilities in Ontario and South Carolina pose no competitive risk.
Georgia-Pacific, an Atlanta-based manufacturer of building products, tissue, packaging, paper, cellulose and related chemicals, announced in January it had entered into a definitive agreement to acquire Grant Forest Products’ oriented strand board (OSB) facility at Englehart, Ont., an associated facility in Earlton, Ont., and plants in Allendale and Clarendon, SC.
The $400 million transaction is expected to close in the first half of the year, following appropriate US and Canadian regulatory and bankruptcy court review and approval.
Georgia-Pacific said it intends to continue operating the plants that employ more than 300 people.